Cumberland Partners Ltd Sells 28,700 Shares of Bank of America Corporation $BAC

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Cumberland Partners Ltd reduced its stake in Bank of America (NYSE:BAC) by 34%, selling 28,700 shares in Q3 and now holding 55,735 shares valued at approximately $2.875 million. This divestment occurred amidst significant institutional activity, including Norges Bank opening a new $5.09 billion position and Berkshire Hathaway also trimming its holdings. Bank of America reported strong quarterly earnings of $0.98 EPS, beating estimates, and declared a quarterly dividend of $0.28, while analysts currently rate the stock as a “Moderate Buy” with a $60.30 target.

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